Aries Capital is pleased to announce that the firm has secured a ground-up construction loan in the amount of $5,300,000 for a new, 83-room hotel located near SeaWorld in San Antonio, Texas.

“Given the Borrower’s experience and success in hotel development, Aries Capital was confident in arranging and securing the financing necessary to fund this ground-up construction project,” said the Aries originator, “The additional capital provided by the Borrower also enabled our team to structure a loan with a 75% loan-to-value ratio.”

The new 83-room Microtel, owned by Longhorn Lodging Partners, is being constructed near SeaWorld. The property will be managed by Caerus Hospitality Partners. Microtel is part of the Wyndham Hotel Group and is an all new build, economy hotel brand with hotels in 46 states and five international countries and 9 time winner of the JD Power Award.